.Club applicant eliminates competition and raises $7 million to launch top level domain.
.Club Domains, LLC has raised a combined $7 million from 27 individual investors and has eliminated its competition for the .club top level domain through a private auction.
Citing confidentiality agreements, .Club Domains CEO Colin Campbell declined to provide the final auction price to Domain Name Wire.
“We’ve raised $7 million to acquire the rights to the name and to launch the name,” he said.
Given the previous $3.5 million announcement and the language used in the company’s press release about the auction, I suspect the auction price was no more than $3.5 million.
Campbell said the auction lasted four days.
As of right now the company has three or four employees, but it is ready to expand. Campbell said it might take 15-20 people to execute on the vision for .club.
“You could obviously run a registry for a lot less, but we like to do things in a big way”, he said.
He also envisions multiple offices around the world. Campbell said “club” is a worldwide brand; a term used in almost all countries to mean a similar thing.
Despite an application priority number of 1,046, Campbell is optimistic that .club will launch by early 2014 because it lacks GAC advice and is no longer faces competition.
“I can’t say how happy and excited the staff here are [about winning the auction]” he said.